In a stunning display of legislative self-sabotage, New York lawmakers this week introduced a bold new tax on the ultra-wealthy—only to realize, too late, that they themselves were among the freshly minted “one percent.”

The tax, which was unveiled to great fanfare at a press conference featuring artisanal sparkling water, was intended to target “greedy billionaires and their yachts.” Instead, it ensnared a surprising number of state senators, assembly members, and their spouses, many of whom apparently forgot to check their own bank statements before voting.

The bill, known as the Fair Share for Everyone Except Us Act, defined “wealthy” as anyone with assets exceeding $1.2 million—just slightly above the average price of an Albany fixer-upper. “We’re sending a message to the rich that they can’t hide from their civic duty,” declared one Assemblywoman, who later spent the afternoon on hold with her accountant. “Wait, what do you mean I have three rental properties in Brooklyn?”

By the time the ink was dry, panic had set in. Lawmakers could be seen frantically refreshing Zillow and Googling “how to move assets to Delaware.”

Within hours, an emergency session was called. The chamber, usually reserved for solemn debates about pothole funding, became a scene of bipartisan unity—against paying more taxes. The repeal passed unanimously, with several lawmakers citing the need to “protect small business owners, like myself.”

At press time, legislators were reportedly considering a new tax on “anyone who doesn’t work in government.”